According to the World Economic Forum Canada has the safest banking system in the world, lead by the Big Five Canadian Banks. This section of our website, presents all larger and some smaller Canadian banks, looking at their histories, banking divisions, major markets, and the services they offer.
Royal Bank of Canada is the largest player in the Canadian banking industry, and has several divisions dealing targeted at different financial markets, including RBC Capital Markets, RBC Direct Investing, RBC Dominion Securities, and RBC Insurance.
The second-largest bank in Canada is Toronto-Dominion Bank or simply TD. TD Canada Trust division of TD offers Canadians personal banking services, while TD Banknorth offers the same to US Clients. TD Securities offer wholesale banking; TD Insurance offers insurance services; TD Waterhouse and TD Asset Management specialize in wealth management solutions.
Scotiabank holds the 3rd place amongst the Canadian banks, and also has several divisions including Scotia Capital Inc, Scotiabank Domestic Banking, Scotiabank International Banking and ScotiaMcLeod Direct Investing.
Established in 1817, the Bank of Montreal or simply BMO has always been one of the top 5 Canadian banks. The online brokerage division of BMO, BMO InvestorLine has been a popular choice for small Canadian investors.
CIBC, short for Canadian Imperial Bank of Commerce is also one of the top 5 banks. CIBC Investors Edge is the discount brokerage arm of CIBC, while CIBC World Markets deals in corporate and investment banking (see CIBC Wood Gundy).
The Bank of Canada is the Canadian central bank responsible for the Canadian monetary policy, banknotes issuing, and promotion of safe financial system. The Bank of Canada was founded in 1934 as a private corporation, and became a Crown corporation in 1938.
American Express Canada is the Canadian division of American Express. The company offers insurance services through American Express Canada Insurance Services, and also offers American Express Canada Small Business Credit Cards, AMEX Canada Savings Accounts and AMEX Online Banking.
You can find out more about a host of smaller Canadian banks like ATB Financial - Alberta Treasury Branches, Bridgewater Bank, Business Development Bank of Canada, Canadian Tire Financial Services, PC Financial, Canadian Western Bank, Citizens Bank of Canada, Dundee Bank of Canada, and Manulife Bank.HSBC InvestDirect
National Bank Direct Brokerage
Scotia Discount Brokerage
National Bank of Canada